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During the period, Nestlé Nigeria Plc's dividends peaked in 2020, reflecting an approximately 10% increase from the prior year​
Key Takeaways:
  • Nestlé’s dividends increase year after year was highest in 2018 and 2019 at ₦17.83 billion and ₦12.68 billion, respectively.
  • The declared dividends reached a peak of ₦55.49 billion in 2020, while the lowest was recorded at ₦15.06 billion in 2016.
  • In recent years, Nestlé Nigeria Plc has shown a declining trend in declared dividends.
  • Dividends decreased by nearly 14%, 17%, and 28% in 2021, 2022, and 2023, respectively, compared to the previous years.

Nestlé's income tax payments over the last ten-year period amounted to ₦221.45 billion
Key takeaways:
  • Nestlé Nigeria's income tax contributions rose from ₦5.6 billion in 2015 to ₦57 billion in 2024.
  • In 2024, the company saw an extraordinary 132% rise in taxes compared to the previous year.
  • Despite facing economic hurdles during the COVID-19 pandemic, Nestlé ensured that its tax contributions remained above ₦21 billion annually from 2020 to 2022.
  • The significant spike in 2024 was mainly due to a considerable loss before tax, driven by heightened finance costs stemming from the devaluation of the Naira.
  • Nestlé Nigeria's 144% income tax growth in 2016 is the highest in the past ten years.

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